Canadian SMEs Seek Tariff Relief Amid Economic Uncertainty

A new survey reveals that 45% of Canadian small business owners fear a sudden cost increase could jeopardize their businesses. The findings highlight the financial anxiety among SME leaders, with 71% describing the current business environment as more unpredictable than a year ago. This uncertainty has led to significant operational changes, with 26% reducing or halting trade with U.S. suppliers or customers, and 22% delaying or canceling growth plans entirely.

The survey, conducted by Censuswide for Dext, polled 250 Canadian SME owners and leaders between October 2 and October 6, 2026. It found that 53% say current conditions make strategic planning and growth decisions impossible. A quarter of respondents say they are developing multiple financial scenarios to plan for different outcomes, while another 24% are regularly updating financial plans in response to new data or shifting conditions.

Despite these challenges, 75% of respondents engage in some form of financial planning and forecasting. However, only 54% believe their business can absorb a sudden increase in costs caused by tariffs and inflation. “Behind every small business is someone who has invested their time, energy, and ambition into building something that matters,” said Joanne Modugno, general manager of Dext North America. “Yet many are telling us they feel overwhelmed by uncertainty and circumstances beyond their control.” For advisors working with business-owner clients, the intersection of tariff exposure, cash flow risk, and long-term financial planning has become one of the most consequential planning conversations of the current cycle. Helping clients stress-test their financial plans against multiple tariff scenarios – and revisit growth timelines, reserve levels, and succession assumptions – may be among the most valuable services an adviser can offer right now.